Your property must meet all the following requirements.

  • It must be eligible property
  • It must be acquired for business use
  • It must have been acquired by purchase or capital type lease

Elections for expensing and depreciating are made on IRS Form 4562 for the year that the property is placed in service.

For businesses more than three years old and looking to finance more than $20,000 of equipment or software, contact us:

Alex Kaiser Oceanside, CA
Phone:  866.720.7220 x102
Email:
   
Tim Wyche Atlanta, GA
Phone: 800.720.7000
Email:

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On February 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act of 2009, which extends The Section 179 Deduction through 12/31/09. To read more about, click on the link to the Internal Revenue Services website. http://www.irs.gov/newsroom/article/0,,id=204335,00.html

Please Note: This does not pretend to be a synopsis, but highlights.  If you are really serious, you may  obtain a copy of the STIMULUS BILL and ability to send a comment: http://www.whitehouse.gov/the_press_office/ARRA_public_review/

Disclaimer: This site is intended to provide you with a brief overview of the Section 179 Deduction and Bonus Depreciation that is available through 12/31/09. All tax based decisions should be made solely on your own research that you make independently of this site and consultation with your CPA or tax professional. We are not tax advisors or tax professionals and take no responsibility for any of the actions or decisions that you make based on your review of the contents of this site.

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